Taiwan President Ma Ying-jeou presented the awards, which honour outstanding contributions to the environment, human rights, medicine and Sinology.
Brundtland, recognised for her life-long dedication to protection of the environment, called for urgent action to address environmental and climate change over the last quarter of a century.
"We're not far sighted enough to do what is needed" on climate change, she warned, addressing the guests invited to the presentation ceremony in Taipei.
A former director general of the World Health Organisation, she also headed the UN World Commission on Environment and Development. The commission's work paved the way to the first Earth Summit, which led to the Kyoto Protocol on greenhouse gases.
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Sachs, who lost an arm and the sight of one eye in a car-bombing by apartheid forces in Mozambique in 1988 and was later appointed to South Africa's Constitutional Court by Nelson Mandela, was recognised "for his many contributions to human rights and justice globally".
The other recipient was Chinese American historian and Sinologist Yu Ying-shih, the winner in the Sinology category.
Each winner received TwD50 million (USD1.7 million), with TwD40 million in cash and the remainder in a grant -- a richer purse than the eight million Swedish kronor (USD1.2 million) that comes with a Nobel Prize.
Yin has said he will donate 95 per cent of his wealth to charity during his lifetime. His net assets are estimated by Forbes magazine at USD4.5 billion.